Stock Market

D-Street bulls throw a year-end party

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NEW DELHI: Benchmark stock indices ended FY19 on a strong note after starting the fi nancial year on a weak footing as foreign entities pumped in money and the prospects of the Narendra Modi-led NDA government retaining power appeared brighter.

But broader markets ended weaker owing to sharp losses in the early part of the fiscal year.

The gains were led by pharma majors Merck and AstraZeneca, which emerged the top performers in the BSE500 index, followed by Bajaj Finance and Axis Bank.

Information technology was the best sectoral performer in FY19 clocking 24.24 per cent gains, followed by banks, which recorded a 22.82 per cent jump.

Telecom and automobiles were the worst-performing sectors.

Under the Modi government, the Nifty posted its third best performance ever, rising 13.83 per cent, while the Sensex gained 16.29 per cent.

However, the small- and midcap indices on the NSE and BSE underperformed considerably, pulled down by uncertainty over growth and fears of a credit squeeze.




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